International Gold Resources Inc.
Overview
International Gold Resources Inc. (IGR) is a Canadian mineral exploration and development company focused on acquiring, exploring, and developing gold and precious metal properties in Colombia, South America. The company’s flagship project is the Gramalote Gold Project, located in the department of Antioquia.
History and Operations
IGR was incorporated in 1999 and listed on the TSX Venture Exchange in 2006. The company has a track record of successful gold exploration and development in Colombia. The Gramalote Gold Project is the company’s primary focus, and it has been under exploration since 2002.
Gramalote Gold Project
The Gramalote Gold Project is located in the Segovia-Remedios mining district, which has a long history of gold production. The project consists of several concessions covering an area of approximately 1,000 hectares.
IGR has conducted extensive exploration work on the Gramalote property, including drilling, trenching, and sampling. The drilling results have confirmed the presence of significant gold mineralization in multiple veins and zones.
Mineralization and Resources
The gold mineralization at Gramalote is hosted in quartz veins and breccia zones within metamorphic and igneous rocks. The veins contain visible gold, as well as gold associated with pyrite, chalcopyrite, and galena.
IGO has estimated the mineral resources at Gramalote as follows:
* Measured and Indicated Resources: 1.4 million ounces of gold equivalent (AuEq) at 6.6 grams of gold per tonne (g/t AuEq)
* Inferred Resources: 3.3 million ounces of AuEq at 4.7 g/t AuEq
Development Plans
IGO is currently advancing the development of the Gramalote Gold Project. The company has completed a Preliminary Economic Assessment (PEA) and is in the process of completing a Pre-Feasibility Study (PFS).
The PEA indicated that the Gramalote project has the potential to be a profitable open-pit mining operation with a mine life of approximately 10 years. The PFS is expected to provide further technical and economic details about the project.
Management Team
IGO has a team of experienced mining executives and geologists. The company’s management team includes:
* Robert Tardif – President and CEO
* Diego Ortegon – Vice President of Exploration
* Robert Jackson – Chief Financial Officer
Financial Position
IGR has a strong financial position with approximately $10 million in cash and equivalents as of March 31, 2021. The company is also supported by a group of institutional investors.
Outlook
IGO is in a strong position to advance the development of the Gramalote Gold Project. The company has a significant mineral resource, a favorable location, and a proven management team. The completion of the PFS and subsequent feasibility study will provide further clarity on the economic viability of the project and pave the way for potential construction and production.
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